I'm not here for money or anything, but I've been told to make content...which earns money. Now I am hearing about free content vs members only content...I just dont know who money is made, earned, or this membership side of the site.

All artists get paid by the site for their content whether it is listed as free or members only. The difference between the two content types is that "free" means that fans can see it without paying money and "members only" means that fans must pay the subscription fee to view the content.